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Hess sells deepwater Equus to new Auz outfit

A newly formed Australian gas company has acquired Hess' Equus deepwater project offshore Western Australia.

Western Gas said Equus, which covers 11 gas and condensate fields in the Carnarvon Basin, about 200km north-west of Onslow, is development ready.

Hess had been planning a floating production platform for the project.

Early 2016, Hess launched a tender process for the engineering, procurement and construction (EPC) contracts of a semisubmersible platform and other subsea equipment for the Equus development. The project was not expected to be sanctioned until 2017 at the time.

However, in November 2016, Hess had made the decision to defer further development of the Equus natural gas fields and closed its Perth office.

Western Gas says the fields contain an independently certified resource of more than 2 Tcf of gas and 42 MMbbl of condensate.

The firm says it will be "progressing timely development of the resource," building on work already done by Hess.

Hess' activities have included the drilling of 17 exploration wells resulting in 15 discoveries, the drilling and testing of four appraisal wells and acquisition of more than 9000sq km of 3D seismic.

Five wells have also been drilled and suspended for future production and we have significant exploration upside with a portfolio of yet-to-be drilled prospects.

Western Gas is led by accountant Andrew Leibovitch and geologist Will Barker. Both worked at Goshawk Energy and Sunbird Energy, both of which the two men co-founded.